EFCC Criticized for Auctioning Seized Vehicles

The Economic and Financial Crimes Commission (EFCC) is under scrutiny for its decision to auction seized vehicles through a platform it intends to manage. The Nigeria Association of Auctioneers, represented by President Benjamin Isibor, argues that this approach undermines transparency, accountability, and due process in asset disposal.

Isibor contends that the EFCC's dual role as both custodian and seller of seized assets creates a conflict of interest that could erode public confidence in the asset recovery process. He referenced a similar situation during the tenure of former EFCC Chairman Ibrahim Magu, where the association successfully challenged the commission's attempt to manage asset sales.

The EFCC has recently taken possession of a fleet of vehicles linked to businesswoman Aisha Achimugu, although the exact number and value of the vehicles have not been disclosed. The association insists that certified auctioneers are better suited to ensure credibility in the auction process.